 This is commonly used for petty cash, or for transactions that have very limited and clearly defined payees and transaction types.For example, law firm accounting includes trust accounts for disbursing funds entrusted to the law firm by each client for the client's benefit.In the United States, the Uniform Transfers to Minors Act provides for the possibility of bank accounts, brokerage accounts, and other property to be held in a custodial capacity under the Act so that the custodian has the right to control the property but that legal title is deemed to be in the minor for many purposes.